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Royal Caribbean Shares Gain On Record Black Friday

Sam Boughedda
Sam Boughedda trader
Updated 2 Dec 2022

Royal Caribbean (NYSE: RCL) shares gained Thursday after the company said Black Friday was the cruise line’s single largest booking day in its 53-year history.

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YOUR CAPITAL IS AT RISK. 81% OF RETAIL CFD ACCOUNTS LOSE MONEY.


It marks the third time the record has been broken in 2022 and also echoes a recent announcement from Carnival Corp, which reported a record Cyber Monday earlier this week.

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YOUR CAPITAL IS AT RISK. 68% OF RETAIL CFD ACCOUNTS LOSE MONEY

Demand for travel has surged this year, with airlines also reporting strong booking trends as pent-up demand from the pandemic continues to follow through into the end of the year. However, while there are fears that the current macroeconomic environment will begin to dampen demand in the early part of 2023, a decline has yet to emerge.

“This has been a year for the books at Royal Caribbean International, from the full return of our 26 ships to the first look at Icon of the Seas, the best family vacation in the world,” commented Michael Bayley, president and CEO of Royal Caribbean International. “Every milestone met is an accomplishment achieved, it’s a wonderful start to 2023 and we are excited for what lies ahead.”

In 2022, Royal Caribbean achieved the single biggest booking day and the highest volume booking week in April, followed by another record-breaking single day of bookings with the opening of its Icon cruise ship in October, before the Black Friday achievement.

The company’s shares closed Thursday’s session up 1.64%.

In late November, Truist analyst Patrick Scholes raised the firm’s price target on Royal Caribbean to $62 from $58, maintaining a Hold rating on the shares, citing “positive milestones” and “encouraging trends” stemming from his conversations with travel agency executives and big data on future bookings.

Out of eight analysts with ratings on the stock, six have assigned a Buy to RCL shares, and two have a Hold rating on the stock, according to TipRanks. The average price target is $74.88.


YOUR CAPITAL IS AT RISK. 81% OF RETAIL CFD ACCOUNTS LOSE MONEY.


Sam Boughedda
Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.